Polygon Price Prediction 2023-2032: Is MATIC Going Past $1 Soon?

Polygon Price Prediction 2023-2032

• Polygon Price Prediction 2023 – up to $0.87
• Polygon Price Prediction 2026 – up to $2.87
• Polygon Price Prediction 2029 – up to $9.01
• Polygon Price Prediction 2032 – up to $26.76

How much is MATIC worth?

Today, the price of Polygon (MATIC) stands at $0.52, experiencing a 24-hour trading volume of $506.66 million. The cryptocurrency has a market capitalization of $4.37 billion and accounts for 0.41% of the market dominance. Over the past 24 hours, MATIC’s price has declined by 0.24%. Currently, 8.01 billion MATIC tokens are in circulation, out of a maximum supply of 10 billion.

MATIC price analysis: MATIC price struggled to surge above $0.52

TL; DR Breakdown

• MATIC price analysis shows a solid consolidation near the bearish zone of $0.52
• Resistance for MATIC is present at $0.5692
• Support for MATIC/USD is present at $0.4897

The MATIC price analysis for 24 September confirms that MATIC witnessed a consolidation near the bearish region of $0.52 after facing intense selling pressure. As the selling pressure intensifies, MATIC price is attempting to decline below the 23.6% Fib channel.

MATIC price analysis 1-day chart: Bulls are struggling to hold near $0.52

Analyzing the daily price chart of Polygon, MATIC’s price witnessed a consolidation after bears failed to plunge the altcoin below 23.6% Fib channel. Over the last 24 hours, MATIC price attempted to surge above the $0.53 mark but failed to meet buying demand at these higher levels. As a result, MATIC price is currently experiencing a tough war between the bulls and bears. The 24-hour volume declined to $723K, showing a decreased interest in trading activity today. MATIC price is currently trading at $0.52, decreasing by over 0.2% in the last 24 hours.

The RSI-14 trend line has surged from its previous level and currently hovers around 40-level, showing that bulls are slowly gaining momentum of the price chart. The SMA-14 level suggests upward volatility in the next few hours.

MATIC/USD 4-hour price chart: MATIC price faces bearish activity above EMA lines

The 4-hour MATIC price chart suggests that MATIC price continues to experience bearish activity above EMA lines, creating a negative sentiment on the price chart. As the price struggles to initiate a surge, bulls prepare for a push above the EMA20 trend line to strengthen buying pressure.

The BoP indicator is trading in a bearish region at 0.24, hinting that sellers are trying to build pressure near resistance levels and boost the downward correction.

Additionally, the MACD trend line has formed red candles below the signal line and the indicator makes a negative reversal, strengthening bearish positions.

What to expect from MATIC price analysis next?

The hourly price chart confirms that bears are making efforts to prevent the MATIC price from an immediate surge. However, if MATIC price successfully breaks above $0.5692, it may surge higher and touch the resistance at $0.7016.

If bulls fail to initiate a surge, MATIC price may drop below the immediate support line at $0.4897, resulting in a correction to $0.3176.

Recent News/Opinions on MATIC

Polygon Seeks Community Approval: On September 14, Polygon introduced three Polygon Improvement Proposals (PIPs) for community review and voting, scheduled to commence in the last quarter of 2023.

Colombian Stablecoin: Num Finance has introduced a Colombian peso-pegged stablecoin called nCOP on the Polygon network. The token, named nCOP, is backed by more reserves than its value and enables individuals and businesses to utilize blockchain for various financial activities, according to the company’s press release.

Blames: Polygon Zero, the scaling branch of Polygon, alleges that Matter Labs copied a significant portion of code from its Plonky2 library for their zkSync project, a layer-2 Ethereum scaling solution. Matter Labs has refuted these claims.

NFT Buying Surge: In recent weeks, MATIC price witnessed a remarkable surge in its NFT sales. According to Dune Analytics, the total sale surpassed the 39K mark on 23 and 24 July.

Polygon 2.0 Governance: Polygon Labs developers proposed a new three-pillar governance structure for Polygon 2.0: an expanded proposal framework for network upgrades, a community-led system for protocol changes, and a treasury mechanism for funding projects and growth.

MATIC To POL Token: Polygon, a company specializing in Ethereum layer-2 development, has suggested an upgrade to its Polygon MATIC token. This would transform it into a versatile token capable of validating multiple chains.

The technical enhancement proposal for MATIC is pending approval from the Polygon community. If accepted, the upgrade would lead to a change in MATIC’s name to POL, reflecting its new multipurpose functionality.

Breaking: Polygon Labs recently proposed an upgrade to its proof-of-stake chain to a zkEVM validium following the unveiling of Polygon 2.0. This move, aimed at enhancing security and performance, is a significant stride towards their goal of capturing the internet’s “value layer”. The proposal also outlines plans for integrating zero-knowledge proofs, seen as the future of smart contract blockchains, separate from Polygon’s zkEVM introduced in March.

Polygon 2.0: Polygon’s team has recently introduced Polygon 2.0, aiming to construct the Value Layer of the Internet.

Therefore, Polygon 2.0 will function as a foundational framework for generating, exchanging, and programming value. The team asserts that Polygon 2.0 will play a crucial role in democratizing the global economy, similarly to how the internet facilitated democratized access to information.

Delist: In response to the classification of certain tokens as securities by the U.S. Securities and Exchange Commission (SEC), eToro, a retail trading platform, has suspended the buying of cryptocurrencies like Algorand [ALGO], Decentraland [MANA], Dash [DASH], and Polygon [MATIC] for its customers residing in the United States. This decision has been implemented by the platform.

Polygon Price Predictions 2023-2032

Price Prediction By Cryptopolitan 

Polygon Price Prediction 2023

Based on the forecast and technical analysis, the price of Polygon in 2023 is expected to touch a minimum of $0.79. The MATIC price might achieve a peak of $0.87, with an average trading price of around $0.82.

Polygon Price Prediction 2024

For 2024, the anticipated lowest price of Polygon stands at $1.15. Our analysis suggests that the MATIC price might climb to a high of $1.37, maintaining an average price of $1.18.

MATIC Price Forecast for 2025

Polygon’s price in 2025 is projected to have a minimum of $1.69. It could potentially hit a high of $2.00, with the average price hovering around $1.73.

Polygon (MATIC) Price Prediction 2026

Based on predictions and technical insights, the price of Polygon in 2026 could range between a low of $2.38 and a high of $2.87, averaging at $2.44.

Polygon Price Prediction 2027

Delving into past MATIC price data, our technical analysis for 2027 suggests a minimum price of $3.35 for Polygon. The peak might touch $4.21, with an average trading price close to $3.45.

Polygon Price Prediction 2028

In 2028, Polygon’s price is anticipated to be at least $5.04. On the higher side, it might reach $5.77, with the average price settling around $5.21.

Polygon (MATIC) Price Prediction 2029

For 2029, the expected price of a single Polygon is a low at $7.29. The MATIC price might surge to a high of $9.01, with an average of around $7.50.

Polygon Price Forecast 2030

The projections for 2030 indicate a potential low of $10.28 for Polygon. Our data analysis predicts a high of $12.56, with an average price of $10.58.

Polygon (MATIC) Price Prediction 2031

Drawing from our in-depth analysis of previous MATIC prices, the 2031 forecast for Polygon suggests a minimum price of $15.41. The price might peak at $18.21, with an average value of $15.83. 

Polygon Price Prediction 2032

By 2032, Polygon’s price is projected to hit a minimum of $23.36. The upper limit could be around $26.76, with the average trading price expected to be $24.15.

Polygon Price Prediction By Coincodex

According to Coincodex’s current Polygon price prediction, Polygon’s price is forecasted to increase by 33.56% and hit $0.703293 by September 20, 2023. The platform’s technical indicators suggest that the prevailing sentiment is bearish, while the Fear & Greed Index registers at 45, indicating “Fear.” Over the past 30 days, Polygon has experienced 15 out of 30 green days, with a price volatility of 4.64%. Coincodex advises that it is currently an unfavorable time to invest in Polygon.

Historical data and BTC halving cycles are used to project a yearly low for Polygon at $0.526577 in 2024. On the other hand, Coincodex predicts that the price could surge to as much as $3.15 in the coming year.

Polygon Price Forecast By Digital Coin Price

Digital Coin Price’s Polygon price forecasts expect bullish growth for the token in the upcoming years due to its ongoing network activity and exponential user base. It is anticipated that the value of MATIC will surpass the threshold of $1.14 in 2024. By the conclusion of the year, Polygon is projected to attain a minimum price of $1.11. Furthermore, there is potential for the MATIC price to reach a maximum level of $1.15.

In 2032, it is anticipated that the value of MATIC will surpass $9.74, with Polygon expected to reach a minimum threshold of $9.7 by the end of the year. Furthermore, there is potential for the MATIC price to reach a maximum level of $9.75.

Polygon Price Prediction By CryptoPredictions.com

According to CryptoPredictions.com’s Polygon prediction, in October 2023, Polygon is forecasted to commence at $0.659 and conclude the month at $0.762. Throughout October, the projected maximum price for MATIC is $0.95, while the minimum price is expected to be $0.653.

Polygon Price Prediction By Industry Experts

Polygon Labs, zkSync, and Scroll ZKP held a competition to develop the best zero-knowledge Ethereum Virtual Machine in July 2022. The project received $1 billion in funding and was subjected to two external audits and an internal audit involving 26 researchers. The Polygon zkEVM was finally launched on March 27, 2023. While the MATIC price did not show an immediate boost, the launch had positive long-term effects. The market experts on Youtube have predicted that the Polygon (MATIC) price will reach an all-time high by the end of 2023.

The reason for their prediction is that Polygon’s zkEVM technology has created many opportunities for developers and entrepreneurs to interact with Ethereum protocols without trust issues securely. @Louround_ and @expctchaos have elaborated on these benefits. They believe that the scalability offered by zk rollups is the most exciting aspect of this technology. With zk rollups, theoretically, thousands of transactions per second can be processed.

The zkEVM is highly notable for its security, in addition to its scalability. Unlike other L1 blockchains, it doesn’t have its own validation set. Instead, it shares its security with the Ethereum base layer through the mathematical proofs that roll-ups post on L1, which can be verified.

Given all these factors, market experts are projecting that the price of Polygon will hit an all-time high by the end of 2023. They believe it could be a top 3 coin, and its technology could be used in various sectors. With the increasing demand for privacy and anonymity, Polygon is well-positioned to become a leader in the field.

Polygon Overview

Polygon serves as a multi-layered protocol suite aimed at resolving the scalability challenges associated with the Ethereum network. By operating a separate but compatible blockchain, Polygon efficiently processes transactions before syncing them back to the main Ethereum chain. This method alleviates the strain on the Ethereum network, enabling faster transaction speeds and reducing costs to a fraction of a cent.

Previously known as Matic Network, Polygon offers a user-friendly framework that allows both new and existing blockchain projects to operate on the Ethereum platform without worrying about scalability constraints.

With Polygon, users can seamlessly engage with decentralized applications (DApps) without concerns over network bottlenecks. The company is led by CEO Jaynti Kanani, who co-founded the project with Sandeep Nailwal, the Chief Operating Officer, and Anurag Arjun, the Chief Product Officer. The team initially launched the project as Matic Network in 2017.

Polygon Price History

According to Polygon’s plan, all Matic coins will have been released by December 2022, which is good news for long-term investors because it guarantees significant future gains.

Since its inception in 2017, Matic tokens have had an incredible run that has withstood the test of unforgiving crypto market turmoil that usually ends up wiping out invalid tokens.

Despite the prevailing bearish trend currently experienced in the crypto market, experts are convinced by Matic’s crypto price prognosis and price forecast data that indicate an overall bullish trend for the long-term investment horizon.

Based on Coingecko’s data, Polygon has recorded impressive gains since its launch back in 2017. The crypto token has recorded incredible gains of up to 44157.6%, and the rally is expected to continue in the following years.

Matic recorded its all-time low price of $0.003143 in May 2019 during the famous bearish run. However, since then, the coin has continued to make significant gains until May 2021, when it recorded a new all-time high price of $2.62. It seems then that May is the month of Polygon, after all.

Polygon’s price has been on the rise since it hit a high of $1 at the end of July, and experts are predicting that as Polygon’s network continues to grow with new partnerships and adoption, the value of its token could go even higher. In August, Polygon’s price hovered around the $0.80 mark, but many believe that this is just the beginning of this promising project.

Recently, in November, Polygon saw a significant surge after the bullish news that the social media giant Meta is teaming up with the blockchain to deliver its journey into the world of Web3 and NFTs.

Stephane Kasriel, head of commerce and financial technologies at Meta, revealed that Instagram businesses will soon be able to create and sell their own NFTs (non-fungible tokens). This service would first launch on the Polygon blockchain before expanding to others, including Solana. MATIC rocketed after this news and hit a high of $1.29 on 7 November.  After peaking and later announcing multiple partnerships, including an NFT marketplace deal with Nike, MATIC eventually fell below the $1 barrier.

Just this past year, Polygon (@0xPolygon) has rolled out some incredible features on Twitter. From the launch of a new Token List service to mobile burning capabilities for MATIC tokens, they have allowed users to interact with MATIC in an efficient and secure manner. This means you can now access the MATIC burn console through your mobile wallet with a simplified interface that is easy to use.

More on Polygon (MATIC)

What’s Polygon (MATIC)?

Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.

Mina Protocol and Polygon are working towards implementing support for Mina on Polygon PoS. This bridge will enable developers building applications on Polygon to leverage privacy and verifiability via Mina’s zero knowledge-SNARK-based protocol.

Polygon Use Cases

Ethereum-based Polygon hopes to solve fundamental issues the Ethereum blockchain faces, such as interoperability and scalability. It is the first project on the Ethereum blockchain to launch an adequately structured tool that addresses the Ethereum scaling problem. Consequently, many have termed Polygon as an Ethereum scaling solution.

Rather than running on its own blockchain, MATIC tokens are traded on the Ethereum blockchain. That’s because Polygon was developed to help scale Ethereum through side chains. MATIC allows you to stake on the Ethereum blockchain and pay for currency transactions. This has helped reduce the high transaction costs inherent in the Ethereum blockchain, helping promote widespread adoption. 

Another thing, Ethereum is home to several DeFi projects like the Polygon, formerly known as the Matic network. Since the Matic network has brought numerous functionalities to the entire Ethereum blockchain, several developers have taken an interest in the project, which has, in turn, led to steady growth of Matic price.

Major cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc., witnessed a slump on the 1st week of June, and yet, the value of Polygon(MATIC) rose nearly 35% in the same period. Investors saw Polygon (MATIC) as the next big thing, and in a short period, it surged past other cryptos to rank among the top 15 biggest cryptos globally. Polygon successfully converts the limited Ethereum blockchain into an open blockchain network usable by many. In essence, it makes Ethereum steady as the internet of blockchains.

In turn, Polygon (Matic) project benefits immensely from the already-established Ethereum blockchain in several ways. Firstly, every blockchain project needs a secure security infrastructure; the Matic network benefits from Ethereum’s array of qualities, such as an active and vibrant community, established security systems, and transparency.

Within the Polygon network, transactions are settled using the Matic coin. Matic price has risen over the years, sparking interest from cryptocurrency enthusiasts. Polygon technology has improved efficiency within the Ethereum blockchain. Today, Polygon boasts of handling up to 65,000 transactions per second on its single sidechain. Similarly, it has averaged an impressive block confirmation time of two seconds per transaction.

Pros and cons of investing in Polygon (Matic)

Polygon, formerly Matic network, has been considered a stable investment by crypto enthusiasts. Anyone interested in Ethereum and its bundle of projects likely has an affinity for Matic.

It is a well-structured organization with clear goals of extending the scalability of the Ethereum blockchain and making cryptocurrency more accessible to the public. If the project continues to push forward strides, its success is inevitable, and consequently, Matic holders will benefit significantly.

Investing is a full-time activity that requires individuals to analyze potential risks and returns before committing. However, within the crypto world, numerous uncertainties shape the prices of crypto coins. Therefore, even for a seasoned professional, it is challenging to make precise predictions on the price of a coin based on historical price actions alone.

However, for an individual to earn impressive returns on their investments, they must take risks. Here, we’ll discuss some of the benefits of investing in the Polygon ecosystem.

Pros of investing in Matic

Since Matic is a scaling solution on the Ethereum blockchain, it is difficult to foresee its downfall. Therefore, most forecasts are convinced that Polygon will be in existence for years to come. So what are some of the pros of investing in this token?

• It provides new scaling solutions to the Ethereum ecosystem, ensuring a bright future and allowing investors to make long-term investments.
• Since 67% of the tokens are already in circulation, and the maximum supply is expected to be realized by December 2022, the coin offers immense growth potential in 2022 and beyond, allowing investors to reap more profits.
• Matic allows for the interconnection of blockchain networks, a scaling solution that assures investors of Matic’s future performance.
• Polygon is supported by a strong community of developers that ensures the project performs well and consequently maintains and increases Matic’s price level.

Cons of investing in Matic

It is indeed public knowledge that investments always come with a degree of risk. Investing in Matic may result in losses if careful considerations of the involved risks aren’t well conducted. Below are some possible shortcomings of investment in Matic.

• Recently, the Polygon network was hacked, and the perpetrators made away with millions worth of Matic tokens. The hacking was a huge red flag for investors since it indicates that the network isn’t as secure as it should be.
• Price volatility. Every cryptocurrency experiences volatility; however, when dealing, sometimes crypto coins experience extreme price drops that may hurt an individual’s portfolio. Since Matic already competes with Avalance, Polkadot, and Cosmos, it is unclear who will win the race. Therefore, for a long time horizon, investors should keep tabs and know when to exit.

Also Read:

• Mastercard launches new Web3 artist program on Polygon
• Will Polygon (MATIC) go up? New developments and downfalls
• Why is MATIC pumping? How high can its price go? 
• How To Stake Polygon
• How To Buy Polygon Crypto

Conclusion

Although Polygon has recently made numerous updates and improvements, its native token MATIC saw a 50% decrease in price last year. It had opened the year at $2.5 but is now trading around $1.1-$1.2 towards the end of the first quarter of 2023.

Despite the short-term volatility, Polygon’s investors remain confident that it can reach double digits in no time. For instance, Lark Davis (@TheCryptoLark) confidently tweeted about his MATIC holdings expecting it to hit $10 soon.

Polygon has been actively forging relationships with various companies in the crypto space and staying abreast of current blockchain technology trends. Here are some recent updates, as announced by Polygon:

• The Polygon Mainnet is now live in Alpha and Beta versions.
• Support for deposits and withdrawals of all Ethereum-based assets
• Support of ERC721 to ERC20, ERC20 to ERC20, and ERC721 to ERC721 transactions enabled
• Increasing the number and capabilities of Proof-of-Stake validators
• Offering the API and SDK toolkit for dApp infrastructure development
• Supernets, a new blockchain network, is ready to skyrocket with Polygon’s $100 million investment toward businesses taking advantage of its powerful technology.

With partnerships and increased adoption, MATIC prices are expected to continue to surge. If investors and traders can take advantage of these bullish signs, they could enjoy significant profits. However, it is important to keep in mind that the cryptocurrency space is highly volatile and risky so always do your own research before investing.

There are many factors influencing the future of MATIC coin, from global economic conditions to the level of adoption of cryptocurrencies. The partnership with Meta and the latest breakout on the platform appear to be positive indicators for the coin’s future price, according to predictions from algorithm-based forecasting sites.

Overall, scaling solutions like Polygon are expected to gain momentum as network congestion on the Ethereum blockchain remains an issue. Polygon’s multi-layer technology allows it to authenticate transactions in a matter of seconds while still uploading them to the Ethereum blockchain, combining scalability and security.

Polygon’s powerful Dapp architecture makes it simple to build new apps on-chain and port current Ethereum projects. However, MATIC is projected to continue dipping by a few cents before beginning another price increase in the near future. Before making any investment decisions, do your own research.